Purchase Ledger
Definitions
- (n.) A financial record or accounting book that tracks all amounts owed by a business to its suppliers or creditors for goods and services purchased on credit.
The accountant reviewed the purchase ledger to ensure all supplier invoices were correctly entered.
Forms
- purchase ledger
Related terms
See also
Commentary
In legal drafting, the purchase ledger is crucial for verifying liabilities and obligations related to credit transactions with suppliers.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.